National Grid (NYSE:NGG) Upgraded at The Goldman Sachs Group

National Grid (NYSE:NGGGet Free Report) was upgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports.

NGG has been the subject of several other reports. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, June 3rd. BNP Paribas upgraded shares of National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, National Grid has a consensus rating of “Moderate Buy” and an average target price of $1,050.00.

View Our Latest Stock Analysis on NGG

National Grid Trading Down 1.3 %

Shares of National Grid stock opened at $56.16 on Wednesday. National Grid has a 1 year low of $55.13 and a 1 year high of $73.40. The firm has a market cap of $41.78 billion, a PE ratio of 11.65, a PEG ratio of 4.94 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. The company has a 50 day simple moving average of $64.99 and a two-hundred day simple moving average of $66.49.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. increased its stake in shares of National Grid by 8.1% in the fourth quarter. Federated Hermes Inc. now owns 2,945,746 shares of the utilities provider’s stock worth $200,281,000 after buying an additional 220,504 shares during the period. FMR LLC increased its stake in shares of National Grid by 23.9% in the third quarter. FMR LLC now owns 1,648,729 shares of the utilities provider’s stock worth $99,962,000 after buying an additional 318,533 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of National Grid by 5.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,286,459 shares of the utilities provider’s stock worth $87,466,000 after buying an additional 70,730 shares during the period. Raymond James & Associates increased its stake in shares of National Grid by 0.6% in the first quarter. Raymond James & Associates now owns 1,268,521 shares of the utilities provider’s stock worth $86,538,000 after buying an additional 7,865 shares during the period. Finally, Capital International Investors purchased a new position in shares of National Grid in the first quarter worth $86,218,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Company Profile

(Get Free Report)

National Grid plc transmits and distributes electricity and gas. The company operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.

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Analyst Recommendations for National Grid (NYSE:NGG)

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